Project: Innovation, Commercialization, and Innocent Drinks Case Study

This project examines the innovation and commercialization strategies of Innocent Drinks, focusing on the launch of their new detox drinks. The assignment covers various aspects of innovation, including its importance to the organization, comparison with invention, and different sources of innovation. It delves into the role of vision, leadership, culture, and teamwork in shaping innovation and commercialization. The project analyzes the 4Ps of innovation, the application of the innovation funnel, and the development of frugal innovations within the organization. Furthermore, it explores the commercial funnel, new product development, and the creation of an innovation business case, including ways of accessing funding. The project also evaluates tools for developing, retaining, and protecting knowledge and intellectual property, and critically assesses the nature of innovation to overcome challenges and achieve success. The analysis provides a comprehensive overview of Innocent Drinks' approach to innovation and commercialization, offering insights into its strategies and challenges.

Innovation and
Commercialisation

Table of Contents
Introduction......................................................................................................................................1
Task 1...............................................................................................................................................1
Explain the innovation and determine it's important to the Organization in comparison with
innovation....................................................................................................................................1
Explain the Organization's vision, leadership, culture and Team work can shape innovation
and commercialization................................................................................................................3
Analyse different sources of innovations and how innovation can foster and how Organisation
can foster and develop an environment of innovation................................................................4
Critically, analyse how the innovation is measured, embedded and measured in Organization 5
Task 2...............................................................................................................................................5
Explain 4Ps of Innovation and examine the use of innovation funnel to shape and examine
innovative ideas...........................................................................................................................5
Analyse and Apply innovation funnel in Organization...............................................................6
Explain the development in frugal innovations and provide example in Organization..............6
Appraise the role of Frugal Innovation in Organization.............................................................7
Task 3...............................................................................................................................................8
Explain the importance of Commercial Funnel and the application of New Product
Development processing for commercialization of Innovations................................................8
P6: Build an innovation Business case for an Organizations including ways of accessing
funding......................................................................................................................................10
Critically evaluate the case study to measure its overall effectiveness using appropriate
techniques available to test, repeat and improve.......................................................................12
Task 4.............................................................................................................................................13
Evaluate the different tool organization can use to develop, retain and protect knowledge and
intellectual property..................................................................................................................13
Present supported Evidence based on evaluation of tool in context of business environment. 14
Critically evaluate the nature of innovation in which it is developed providing evidence based
judgement to overcome challenges in order to develop successful innovations.......................15
Conclusion.....................................................................................................................................15

References......................................................................................................................................16

Introduction
Innovation can be called by another name renew. It can simply be referred to as
improving or replacing something in order to be able to survive and grow themselves in long
term. On the other hand, Commercialization, is a process of bringing new product or service into
the market (Wang, Phillips and Yang, 2021). It broadly includes production, distribution,
marketing, sales as well as customer support in order to make the new offering successful.
According to Peter Drucker “Innovation is the specific instrument of entrepreneurship… the act
that endows resources with a new capacity to create wealth.” Thus innovation can be said as the
process of building value by employing novel solutions to any significant problematic situation.
Also innovation not always come with commercialisation, even non-profit can be innovative as
well but their value creation scale will be different. For the current report on innovation and
commercialisation, chosen company is Innocent Drinks, which came into existence since 1999
and are involved in offering smoothies, juices, coconut water in a quest to deliver healthier as
well as tastier product to kids. This project covers wide aspect of Innovation and
Commercialisation and is focussed on launching the company's new product offering that is
Detox drinks. This project detailed innovation, difference between innovation and inventions,
different type of innovation, process and range of different method in order to select the most
favourable method in order to be successful in long term.
Task 1
Explain the innovation and determine it's important to the Organization in comparison with
innovation
Innovation in simple terms can be defined as a process that is undertake by an individual
in order to undertake new products, processes and ideas or add a unique approach to their
existing offerings. Invention on the other hand, uses technology to solve a specific problem.
Therefore, the purpose of invention is to solve a particular problem that have arrived at a point of
time (Pellikka and Malinen, 2014.). Innovation on it's own cannot happen as it needs creativity
as well as innovation in order to implement it appropriately. For getting it's better understanding
it is essential for Innocents drinks to understand the important of innovation. This can be detailed
below:
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 Solves problems quiet Easily: It is very critical for the leader to come with creative
answers in order to be able to solve a certain problem. In these dynamic times, it is
important for the leader to think out of the box (Hora and Dutta, 2013). This will enable
the management to produce their Offerings, store inventory and provide unique solution
in order to make their business better. Increases Productivity: There comes many time when the company struggles to get
everything done. Then, it is very critical for the company to become more productive by
define a new process. This can be done by the management by thinking straightly in order
to streamline their processes. In addition to this,the company need to be enhance on their
different programs and workflow in order to increase their productivity. It is always a
smarter approach to test diverse idea. This might combine different ideas in order for you
to observe more productivity than expected. Being at Par with advancement in Technology: The advancement of technology by
digitization has enabled connections as well as shared information among multiple
channels (Qian and Haynes, 2014). Due to this, enhanced connectivity that more
revenues of data has being created. This has been changing the level of competition as
due to increasing availability has provided accessibility to free as well low cost courses in
order to enhance their learning capability and expertise. Adapting to Work-place dynamics: In present times, peoples are continually changing
their job status a very increasing rate in order to seek more work and equality. Adding to
this, even recruitment processes are shifting to online mode. There are number of
strategies that are devises by companies all order to world in order to enhance staff
engagement, acquisition as well as retentions.
 Responding to increasing Customer's expectation and Choices: It is critical to
implement drastic changes in order to perceive customer needs and expectations by
increasing the speed as well wide range of choices in order to enhance their connection
with digitized world.
Comparison between Innovation and Invention:
Basis Innovation Invention
Meaning Improves or make significant
contribution to the exist
Creation of new product or
services or introduction of new
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product, services or process process
Concerned with Combination of various
product or processes
Combination of various
product or processes Single
product or process
Activities This is spread across entire
Organizations
This is limited to research and
development
Explain the Organization's vision, leadership, culture and Team work can shape innovation and
commercialization.
For making a company successful, it is critical for the CEO to have a clear vision,
leadership, culture and Team work. In this dynamic times, it is critical for the company to
understand how the different aspects can shape innovation and commercialization. For doing
this, detail understanding has been provided between:
Vision: The company's vision statement basically states the clear sense of purpose for
which the company has come into existence. Talking about the specific vision of Innocent drink
is that to grow them as global, natural, healthy food and drinks company.
Value: Value states the unique thought process and beliefs set in order to communicate
the core principles that guides the strategy of the organization and define a particular way for
them to operate their day to day activities.
Culture: In simple terms, Culture can be stated as a way of life that broadly is displayed
by their behaviour, beliefs, value as well as symbols that they agree without thinking much about
them. In context of Organization, it broadly includes experiences, expectations, their working as
well as their future expectations.
Leadership: Leadership, is simple referred to as being able to inspire others. In today's
dynamic times, it is important for the leaders to be flexible in order to keep guiding as well as
motivation their team at every level by adopting the latest technology being used. Effective
leadership is one that use a combination of their original idea as well as borrowed ideas in order
to be appropriately able to communicate to others in a way that keep them highly engaged in
order to do their respective task.
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Team work: This can be simply being referred to as combined effort of a group in order
to achieve a common goal. Today's team in the business environment are way different from the
one that were created in the past. This different has occurred due to diverse, dispersed, digital as
well dynamic changes happening in this fast paced environment. For doing it is important for
each of the different team member to understand each other and build strong relationship in a bid
to be at par with the goals of the Organizations.
It is important for the CEO of innocent to align company vision, culture, leadership and
team work in order to be able to shape up their new innovations. This is done by them, by seeing
that their new creation detox drinks are at par with their vision and keep their values as well the
company intact. In addition to this, leader should ensure that he is able to provide right guidance
to each of their employees at all levels by sharing his experience and encourage that to enhance
their thought process. Lastly, he should even encourage team work organize various program in
order to build strong relationship among each other in order to enhance the efficiency of the
entire Organization.
Analyse different sources of innovations and how innovation can foster and how Organisation
can foster and develop an environment of innovation.
There are different sources of innovation that companies have been adopted throughout
the world in order to develop an environment of innovations. In order to make their innovative
product offering successful it is important for the Organisation to understand, evaluate and
implement the sources of innovations (Adelakun, 2014). These sources can be detailed below in
more detail:
 Unexpectancy: Today's business is ever changing. It is impossible to predict what might
happen at a point of time. The unexpected failures or even unexpected success can lead to
create innovative ideas. Sudden Unexpected Situation can have a powerful influence on
the each other in order to inspire one another to gain new thought process on the situation
that has arisen.
 Based on Process Needs: The weak spot in the Organization create scope of new
opportunity for Innovation. In this case, the innovation is task focus rather than situation
based and improves the process of the task in hand.
 Demographic: This mainly relate to changes in population size, age, structure, Income,
etc. They are quite reliable and create diverse source of Innovations. They have a large
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affect the market as they determine the needs of product and number of product to be
manufactured in order to satisfying the particular needs of their target market.
Critically, analyse how the innovation is measured, embedded and measured in Organization
Talking about innovation in context of Organization as the company is indulged in
healthcare, innovation is not a choice for them but a necessary for them to deal with the
challenges they are currently facing. The management should devise their own innovative
approach specifically in the corona pandemic wherein everyone is adopted healthier lifestyle and
every company is devise unique ideas to cater to healthier customers. It is must for the company,
to broaden their thinking in order to create innovative offerings.
Task 2
Explain 4Ps of Innovation and examine the use of innovation funnel to shape and examine
innovative ideas
All the company throughout the world are utilizing 4P's in order to change themselves in
this dynamic environment (Games, Kartika, Sari, and Assariy, 2020). For getting it's
understanding this can be elaborated below:
Paradigm: The paradigm shift can be referred to as fundamental change in their core
values, concepts as well as practices. Similarly, the paradigm shift is driven by the shift that is
already happening. The company is already offering healthier drinks and if their new offering
detox drink is able to benefit their valuable products in terms increasing hydration and even
increase their immunity.
Process: Process can have referred to enhancing the automation by enhancing their
product processes. The company has enhanced their process by ensuring proper hygiene
practices are followed at every steps (Kim, Kim and Jeon, 2018). In addition to this, the
management of Innocent drinks should see to it that are able to make their product organic as
possible in order to provide the feeling to the youth that the drink with clear the clutter and
hydrate their body.
Position: Position refers to place in the market. Product innovation means position their
product in the market as per the recent perception of their customers. This can be done by the
Organization that their specific company isn't just refreshing their mind but their Detox drink
will eliminate the toxins from their body.
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Product: This is the last P of Innovation but one of the most important (Huang and et. al.,
2013). Product innovation simply means creating new offering or making drastic changes in their
product or services. This can be done by the management to create an impression in the minds of
their target customer that their drinks are actually beneficial for them and at the same time it
should be way parts of their competitors.
Innovation funnel can be broadly defined as a range of innovative idea and prototype in
order to analyse the products viability. This approach is widely used by the company in order to
analyse which ideas is favourable as well as realistic in order to select one of the most favourable
idea (Osoro, Kirama and Vermeulen, 2017). This is further beneficial for the company in
prioritize their defined objectives.
Analyse and Apply innovation funnel in Organization
It is important for Innocent drinks to understand the different stages used in Innovation
funnel in order to implement it appropriately. The stages can be detailed below:
 Opportunity assessment: This is where organization is favourable customer and market
data to introduce their product line.
 Insight based ideation: Once the ideas is created as per the R&D strategy then the
company need evaluate and utilize the right source of funding.
 Conceptualization: In this stage, the best is presented in the form of prototype for testing
their product viability. This could be complex, as it might require changes and need to
upgrade as required
 Evaluation and Benchmarking: This is a step to test out their prototype by offering to
their customers and improve further by their customer feedback.
 Ploughing on or cut it loose: At this in will be cleared whether their product to ready to
start their operation and need to emphasize of various factors that includes advertising
cost, manufacturing cost and marketing cost.
 Launch: This is final stage to launch their creativity into reality.
Explain the development in frugal innovations and provide example in Organization
Frugal Innovation can be referred to as commercialization in terms of limited resources,
quality products keeping in mind that the product should be highly affordable to the masses.
Rather, then seen the limited resources as a weakness it sees it as an opportunity in order to
enhance the efficiency as a whole organization. The main aim of this innovation to enhance their
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product quality in order to maximize the value of each of their customers (Miller and Miller,
2012). It is important for the Organization to understand the needs of frugal innovation in order
to apply it appropriately. This approach used by diverse companies and it is expected that the
demand to rise further. The environmental constraints including climate, energy, water and other
resources will even increase the demand. The recent Corona- virus has drastically risen the
awareness not limited to youth but also the older generation. This has been adopted in order to
increase their immunity for avoiding or eliminate the disastrous diseases that they are suffering
from that includes higher blood pressure, cancer or any other detrimental diseases that is
resulting to shortening their life on earth (Datta, Reed and Jessup, 2013). By doing this, company
should introduce new variety of detox drinks that is healthier yet tastier and they would create
different drinks for people of different age group. Some of its benefits can be detailed below:
 Design Thinking: This is beneficial for enhancing the design thinking by collaborating
the thought process of different minds.
 New ways of Product Design and Development: This is beneficial for the company
devise new ways that wasn’t thought of by their competitors.
 Leveraging modern technology: It will most favourable for the leaders if they are able to
utilize the most recent technology at a very faster way in order to get ahead in
competition in the beverage industry.
Appraise the role of Frugal Innovation in Organization
The role of Frugal innovation is very critical for the Organisation. This is because there
new product offering isn't just limited to offering affordable prices to their valuable customers
but it is also emphases to making their product as sustainable as possible (Spieth,
Schneckenberg and Ricart, 2014). The recent corona crisis has created opportunity for the
management of the company to come up with detox drinks of different and unique flavours that
have increased the demands of these drinks. This will help the customers to enhance their
immunity and thereby, enable the company to be successful in long term.
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Task 3
Explain the importance of Commercial Funnel and the application of New Product Development
processing for commercialization of Innovations.
Commercial funnel is also known by another term as Sales funnel. In simple terms, this
can be referred to as marketing tools that is a visual representation of prospects first interaction
until the final purchase (Link and Scott, 2012). This is one of the vital tool used by many
companies throughout the world in order to analyse what their potential customers are thinking
as well as doing at each stage. This tool will support the management in investing in the right
marketing activities and channel in order to influence customers into buying their products. This
can be detailed below through its four different stages:
 Awareness: This is the initial stage wherein people will become a part of their new
product. This may be spread among their potential customer through different medium
that mainly includes advertisement on social media and word of mouth. The influence of
the people is highly dependent of the marketing capabilities on the managers. The
management of the company needs to broaden their thought process in order to spread the
right message through the most favourable medium.
 Interest: Once the customers have been awarded about the existence of the new product
then need to understand the interest level of each of the prospects. For doing this,
management need to evaluate the problem they are trying to solve by undertaking
detailed research to provide the best solution to the customers.
 Decision: Once the customers have been well informed about the new product offerings
and have aroused interest in the product. Then, the prospects will go in depth of their
chosen pricing and packaging options.
 Action: This is referred as the action taken by the customers in terms whether they are
purchasing the product or not (Csedő and Zavarkó, 2020). If the deal is done it is start of
the revenue generation and if not the company can innovative campaign in order to attract
future prospects.
This will enable to make appropriate changes in their new product development process.
Stage 1 Idea Generations: This is a very initial stage wherein products function and
performance requirement are analysed. This is done by as per buyer's preferences and
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accordingly designing ideas are floated that are able to provide compatible solution to identify
the market needs that they can address.
Stage 2 Feasibility Study: At this Stage, management gets an opportunity to evaluate the
potential of the project to get successful (Schneider and Spieth, 2013). This is done, by studying
business from different angle and reviewing the product design concepts. This will enable the
management to select the best design that fulfils the requirement of the users.
Stage 3 Design and Development: In this stage, formal engineering as per specifications are
created. This can further be elaborated that Verification and Validation plans are created for
future (Schneider and Spieth, 2013). For doing this, several quality test are undertaken in order to
ensure that all delivered agreed from initiation are present and being development for create the
end product.
Stage 4 Testing and Verifications: At this Stage, Comprehensive testing of the product takes
place in order to evaluate the capability of the design in terms of its ability to meet customers as
well as customer's requirement (Link and Scott, 2012). The verification is done mainly based on
whether the design fulfils the requirement.
Stage 5 Validation and Collateral Product: Validation takes place based on customer's needs
that has been identify at the time of idea generations (Csedő and Zavarkó, 2020). This acts as a
support to finalize the product and the launch phase.
Stage 6 Launch: Plans as well as other manufacture for production or software products in order
to launch their products by release through electronic medium.
Stage 7 Improvement: Once, the product is launched it becomes part of the company's portfolio.
Then, it is important for the manager to release the upgrade as required and should accessible for
the customer for downloads.
Once, the management of Innocent drinks have been well equipped of the new product
development process it is must for the management to undertake proper application for the same.
This can be explained below:
Stage1: At this Stage, manager should gather the team of different department together
that includes marketing, finance, research and development in order to take feedback for each of
them to understand the perspectives of diverse minds. These will enable the company devise
unique ways in order to diversifying their offering specifically from the immediate competitors
in the beverage industry.
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